Turtlemint Fintech
Turtlemint Fintech is a leading insurtech company in India, offering a range of insurance and financial products, including health, life, and vehicle insurance, as well as mutual funds and loans. The company operates in the financial technology sector, focusing on providing accessible insurance and investment solutions.
Price Band
₹152 - ₹152
Lot Size
98 Shares
Issue Size
₹883.00 Cr
Fresh Issue
₹660.72 Cr
OFS
₹222.28 Cr
Registrar
AI Sentiment Score
Listing Price
₹134.90
vs Issue: ₹152 (-11.25%)
📅 IPO Timeline
1
Open
TBD
2
Close
TBD
✓
Allotment
Jun 24
✓
Refund
Jun 25
✓
Demat
Jun 25
✓
Listing
Jun 29
✨ AI Analysis & Prediction
-0.5%
predicted listing gain
Turtlemint Fintech's IPO faces challenges due to zero institutional demand and a lack of profitability, which are significant deterrents for potential investors. The medium float size and absence of a grey market premium further contribute to a negative outlook for listing gains.
💪 Strengths
- Strong market position in insurtech
- Innovative technology platform
⚠️ Weaknesses
- Consistent financial losses
- Zero institutional demand
🚀 Opportunities
- Expansion in the insurtech market
- Potential for strategic acquisitions
🛡️ Threats
- High competition in the fintech sector
- Sustainability of financial performance
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Expenditure towards cloud and server related infrastructure of the Company; | ₹25.64 |
| Salary expenditure towards the technology and product development teams of the Company; | ₹193.04 |
| Expenditure towards marketing initiatives by the Company; | ₹39.07 |
| Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Company | ₹22.21 |
| Expenditure towards lease payments for existing properties of thr Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by wholly owned Subsidiary, TIB | ₹20.87 |
| Investment in the wholly owned Subsidiary, TIB, for funding its working capital requirements; and | ₹128.64 |
| Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes. | ₹453.53 |
📊 Key Financials
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 460.11 | 119.12 | 693.21 | 748.91 |
| PAT (₹ Cr) | 288.18 | 193.35 | 194.11 | 187.39 |
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in 2015, Turtlemint Fintech has emerged as a prominent player in the insurtech industry, leveraging technology to simplify the insurance buying process for consumers. The company offers a comprehensive suite of insurance products, including health, life, car, and bike insurance, along with investment options like mutual funds. Turtlemint's platform empowers users to compare and select the best insurance and financial plans tailored to their needs.
The company's mission is to ensure financial security for every Indian by providing accessible and affordable insurance and investment solutions. Turtlemint has established a strong market presence, serving a diverse customer base across India. Its innovative approach and user-friendly platform have positioned it as a preferred choice for individuals seeking insurance and investment products.
Turtlemint's operations are supported by a robust infrastructure, including a dedicated team focused on technology and product development. The company has invested significantly in cloud and server infrastructure to enhance its service delivery and customer experience. With a strategic focus on marketing initiatives, Turtlemint aims to expand its reach and strengthen its brand presence in the competitive insurtech market.
The promoters, Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi, bring extensive experience and expertise to the company, driving its growth and strategic direction. Under their leadership, Turtlemint has achieved significant milestones and continues to innovate in the insurance technology space.
Turtlemint Fintech's IPO aims to raise approximately ₹883 crores, with a fresh issue of ₹660.72 crores and an offer for sale of up to 1,46,01,846 equity shares. The price band is set between ₹144 to ₹152 per share, and the IPO will be open for subscription from June 19 to June 23, 2026. The shares are expected to list on the BSE and NSE on June 29, 2026.
The proceeds from the fresh issue will be utilized for various purposes, including investment in cloud and server infrastructure, salary expenses for technology and product development teams, marketing initiatives, lease payments, and funding working capital requirements for its subsidiary. A portion of the funds will also support inorganic growth through acquisitions and strategic initiatives.
Financially, Turtlemint has shown significant revenue growth, with ₹693.21 crores in 2025 compared to ₹119.12 crores in 2024. However, the company has reported consistent losses, with a PAT of ₹194.11 crores in 2025. The absence of profitability and a negative ROE are concerning for potential investors.
Valuation-wise, the IPO does not offer a clear margin of safety, given the lack of profitability and high P/E ratio compared to industry peers. The company's financial performance and valuation metrics suggest a cautious approach for investors.
Key strengths of Turtlemint include its strong market position in the insurtech sector and its innovative technology platform. However, the lack of institutional demand, zero grey market premium, and ongoing financial losses pose significant risks. Investors should weigh these factors carefully before making investment decisions.